Impala Asset Management LLC Acquires New Stake in Precigen, Inc. $PGEN

Impala Asset Management LLC acquired a new stake in shares of Precigen, Inc. (NASDAQ:PGEN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 165,000 shares of the biotechnology company’s stock, valued at approximately $690,000. Precigen comprises approximately 0.4% of Impala Asset Management LLC’s portfolio, making the stock its 21st largest holding.

Other large investors have also made changes to their positions in the company. State Street Corp lifted its position in Precigen by 141.1% during the fourth quarter. State Street Corp now owns 10,824,860 shares of the biotechnology company’s stock worth $45,248,000 after buying an additional 6,335,033 shares during the period. Geode Capital Management LLC lifted its position in Precigen by 15.9% during the fourth quarter. Geode Capital Management LLC now owns 4,462,078 shares of the biotechnology company’s stock worth $18,653,000 after buying an additional 613,340 shares during the period. SymBiosis Capital Partners LLC purchased a new position in Precigen during the fourth quarter worth about $12,540,000. Bank of America Corp DE lifted its position in Precigen by 201.1% during the third quarter. Bank of America Corp DE now owns 2,505,992 shares of the biotechnology company’s stock worth $8,245,000 after buying an additional 1,673,731 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Precigen by 196.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,173,933 shares of the biotechnology company’s stock worth $9,087,000 after buying an additional 1,440,446 shares during the period. Institutional investors and hedge funds own 33.51% of the company’s stock.

Analysts Set New Price Targets

PGEN has been the topic of several recent analyst reports. Zacks Research upgraded Precigen from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Citigroup restated an “outperform” rating on shares of Precigen in a report on Thursday, May 14th. Citizens Jmp raised their price objective on Precigen from $9.00 to $11.00 and gave the stock a “market outperform” rating in a report on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Precigen in a report on Tuesday, April 21st. Finally, Wall Street Zen downgraded Precigen from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Precigen has an average rating of “Hold” and a consensus target price of $12.50.

Precigen Price Performance

PGEN stock opened at $4.45 on Friday. The company has a quick ratio of 4.12, a current ratio of 4.82 and a debt-to-equity ratio of 4.62. Precigen, Inc. has a 52-week low of $1.38 and a 52-week high of $5.47. The stock’s 50 day moving average is $4.12 and its two-hundred day moving average is $4.07. The company has a market capitalization of $1.59 billion, a PE ratio of -3.77 and a beta of 1.06.

Precigen (NASDAQ:PGEN) last posted its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $23.25 million for the quarter, compared to the consensus estimate of $20.81 million. Precigen had a positive return on equity of 717.50% and a negative net margin of 646.99%. Analysts predict that Precigen, Inc. will post -0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Donald P. Lehr sold 29,131 shares of Precigen stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total value of $127,011.16. Following the completion of the transaction, the insider owned 755,461 shares in the company, valued at approximately $3,293,809.96. This trade represents a 3.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Harry Jr. Thomasian sold 41,884 shares of Precigen stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $4.36, for a total value of $182,614.24. Following the completion of the transaction, the chief financial officer owned 554,535 shares of the company’s stock, valued at approximately $2,417,772.60. The trade was a 7.02% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 5,005,749 shares of company stock worth $16,765,918. 47.10% of the stock is currently owned by insiders.

Precigen Profile

Precigen, Inc (NASDAQ: PGEN) is a biotechnology company focused on the discovery, development and commercialization of genetic medicines. The company leverages proprietary gene and cell therapy platforms to design targeted therapies for oncology, infectious diseases and rare conditions. Precigen’s approach combines synthetic biology, immuno-oncology and microbiome engineering to create precision treatments intended to enhance efficacy while minimizing off-target effects.

The centerpiece of Precigen’s technology is its OmniCAR platform, which enables the rapid generation of adaptable chimeric antigen receptor (CAR) T-cell products.